Reliant Investment Management LLC cut its stake in PNC Financial Services Group Inc (NYSE:PNC) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,375 shares of the financial services provider’s stock after selling 1,400 shares during the period. PNC Financial Services Group comprises about 3.5% of Reliant Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Reliant Investment Management LLC’s holdings in PNC Financial Services Group were worth $3,434,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. IMS Capital Management bought a new position in shares of PNC Financial Services Group in the third quarter worth about $28,000. Transamerica Financial Advisors Inc. acquired a new position in PNC Financial Services Group in the 4th quarter worth approximately $36,000. Athena Capital Advisors LLC acquired a new position in PNC Financial Services Group in the 4th quarter worth approximately $37,000. Ipswich Investment Management Co. Inc. acquired a new position in PNC Financial Services Group in the 4th quarter worth approximately $43,000. Finally, Capital Financial Planning LLC acquired a new position in PNC Financial Services Group in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.23% of the company’s stock.
In related news, EVP Robert Q. Reilly sold 12,361 shares of PNC Financial Services Group stock in a transaction on Friday, February 8th. The shares were sold at an average price of $122.50, for a total value of $1,514,222.50. Following the sale, the executive vice president now owns 118,671 shares of the company’s stock, valued at approximately $14,537,197.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was bought at an average cost of $125.69 per share, for a total transaction of $62,845.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.
Shares of NYSE PNC traded up $0.18 during midday trading on Monday, reaching $119.36. 23,206 shares of the stock were exchanged, compared to its average volume of 2,581,738. The stock has a market capitalization of $54.30 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.41 and a beta of 1.05. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $154.58. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.87 and a quick ratio of 0.87.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.04). PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the business earned $2.29 EPS. PNC Financial Services Group’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that PNC Financial Services Group Inc will post 11.31 earnings per share for the current fiscal year.
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About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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